Prominent businessman Ravi Wijeratne is the Sri Lankan partner in Australian multi-million dollar businessman James Douglas Packer’s super luxury hotel and mixed development project with an investment of USD 350 million. With the relevant Gazette notifications passed by parliament yesterday, Ravi Wijeratne who spoke to AdaderanaBiz while being overseas he would consider the future steps…
Shah Rukh Khan, who is always seen cheering up for his team KKR (Kolkata Knight Riders) at the IPL grounds, will not attend any match of the team this season. A source close to the actor reveals, “Srk has to finish the shooting of Farah Khan’s Happy New Year opposite Deepika Padukone. Like always he…
Colombo bourse concluded the week in the negative territory where Benchmark All share price index lost 10.32 points (-0.17%) to close at 6,167.81 and S&P SL 20 index lost 6.59 points to close at 3,387.97. Price declines in index heavy counters such as Ceylon Tobacco (closed at LKR 1,065.50, -3.1%), John Keells Holdings (closed at…
While there is an expressway system being established in Sri Lanka now, the interchanges to these expressways are to be developed by setting up business and other facilities, said a senior government minister. Minister of International Monetary Co-operation and Deputy Minister of Finance and Planning Dr. Sarath Amunugama revealed this while addressing the International Valuers’…
Social networking giant Facebook has reported profits of $642m (£383m) during the first quarter of 2014, beating analyst expectations. The firm said that a surge in mobile advertising helped push revenues 72% higher, to $2.5bn in the January-to-March period. Mobile now makes up 59% of advertising revenue, from 30% a year ago. Facebook also announced…
With the Strategic Development Projects Act being presented to parliament to be gazette and a rumor that Australian businessman James Packer is currently in Sri Lanka, AdaderanaBiz inquired from Investment Promotions Minister on the veracity of this story. Investment Promotions Minister Lakshman Yapa Abeywardene responded, “That is an utter lie. James Packer is not in…
Divasa Equity’s 51 percent controlling stake of George Steuart Finance changed hands as a strategic crossing this morning, said George Steuart Group chairman Dilith Jayaweera. Accordingly, Divasa Equity’s 11.4 million shares of George Steuart Finance at Rs. 28.80 each crossed to George Steuart & Company this morning. The total value of the crossing is Rs. 329…
Colombo shares managed to regain lost ground on Thursday, as both indices closed with higher returns. All share price index advanced marginally by 5.36 points (+0.09%) to close at 6,178.13 while 20-script S&P SL index advanced by 21.01 points (+0.62%) to close at 3,394.56. Price improvements in counters such as Bukit Darah (closed at LKR…
Crown casinos boss James Packer has said Australian visa requirements for Chinese tourists “stupid”, arguing more wealthy Chinese visitors to Australia could benefit the tourism sector. Packer said: “The visa processing system for Chinese tourists has improved recently, but there is more work to do in this area and each day we waste costs Australia…
Deepthi Lokuarachchi has been appointed the new Chief Executive Officer of Sri Lanka Insurance Corporation. With longstanding experience as an insurance professional Lokuarachchi obtained his degree in law from the Law Faculty of the University of Colombo. He is a past pupil of Trinity College, Kandy.
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